The case for environmental compensation and the valuation of environmental impact mitigation measures: A New Zealand model: A dissertation submitted in partial fulfilment of the requirements for the degree of Master of Professional Studies (Environmental Management)

The objective of the dissertation is to demonstrate that the practice of environmental compensation, which has been adopted in a number of regimes internationally, is a valid and acceptable mechanism to achieve a no net loss of biodiversity outcome to development that results in environmental impact. This will be achieved by giving examples of the practice in Europe, the US and Australia. The legislative provision in each instance will be outlined and the perceived strengths and weaknesses described. An examination of the New Zealand legislative framework that surrounds environmental management will be undertaken. Examples of de facto environmental compensation used by the Environment Court are identified. As part of the process of establishing appropriate environmental compensation an impact "valuation" technique is required and an example of such a tool in use in New Zealand is given and analysed. Solid Energy New Zealand's use of a matrix based tool to evaluate the degree of environmental impact caused by its operations will be used as an example of how such a compensation model may be developed and alternatives or developments of the existing methodology will be suggested